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EXCEL - IDEA: XBRL DOCUMENT - AccelPath, Inc.Financial_Report.xls
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v2.4.0.6
GOING CONCERN UNCERTAINTY AND MANAGEMENT'S PLAN
3 Months Ended
Sep. 30, 2011
Going Concern Uncertainty And Management S Plan [Abstract]  
Going Concern Uncertainty and Management'S Plan [Text Block]

2.  GOING CONCERN UNCERTAINTY AND MANAGEMENT’S PLAN

 

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern. The Company incurred a net loss of $564,235 for the three months ended September 30, 2011. The Company also incurred net losses of $2,983,213 and $325,235 for the years ended June 30, 2011 and 2010, respectively.  Further, the Company had working capital deficits of $1,062,956 and $682,682 and stockholders’ deficits of $491,987 and $98,899 at September 30 and June 30, 2011, respectively. Management is anticipating sales growth through an expanded customer base and is also actively seeking financing through new and existing investors to fund operations. There is no assurance that the Company can reverse its net losses, or that the Company will be able to raise capital. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of the above uncertainty.